The Sports Facilities sales tax was approved by voters in March 2008 to raise an estimated $121 million if an NBA team relocated to Oklahoma City. When the Seattle SuperSonics moved a few months later, the sales tax began in January of 2009 and ran through March of 2010.
The tax was projected to raise money for Ford Center renovations ($101 million) and a new practice facility in north Oklahoma City ($20 million).
All projects won't be completed until the summer of 2011 but the city might save as much as $14 million. Ford Center renovations are projected to cost $91.5 million, the practice facility $14.5 million.
Total cost for the two projects are estimated at $106 million, including the largest phase of Ford Center renovations that will begin this fall.
Because of a down economy, the tax raised only $103 million but the city will supplement the shortage with sports facilities use taxes. Tom Anderson, executive manager of special projects, said if excess funding is available it will be used to enhance both the Ford Center and practice facility.
A break down of the costs:
$12.2 million, professional fees (A&E, testing)
$1.5 million, early basketball operations
$1.3 million, relocation of I-40, Robinson Ave.
$4 million, 2008 Ford Center renovations
$29.8 million, 2009 Ford Center renovations
$2.8 million, 2010 Ford Center renovations
$40 million, 2010-11 Ford Center renovations
$14.5 million, practice facility
$106 million, TOTAL COST
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